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MGM Library up for Sale
Posted November 12, 2009 11:03 AM by Juan Calonge
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According to Variety, MGM is expected to essentially be auctioned off within the next few weeks. Its library would be acquired by a major studio; another party would buy the roaring lion logo; and yet another would buy the United Artists film studio. MGM's financial problems have been in the spotlight since the summer, and as of September was said to be teetering on bankruptcy.
One candidate mentioned for purchase of the MGM library is Time Warner, which already controls its classic catalog through a 1996 merger with Turner Broadcasting System, which had purchased MGM's catalog in 1986.
Thus, as film site Film School Rejects details, what's on the market consists of many of the titles MGM made after 1986, most of the post-1952 UA catalog, post-1981 Orion Pictures titles, and several minor catalogs.
In 2009, MGM has only had one film to release in theaters – the 'Fame' remake, which is anticipated on Blu-ray for January 2010 but hasn't been officially announced yet.
As of August 18, 2009, MGM ownership is as follows: Providence Equity Partners (29%), TPG (21%), Sony Corporation of America (20%), Comcast (20%), DLJ Merchant Banking Partners (7%) and Quadrangle Group (3%).
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Source: Variety |
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Relevant for:
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rgrudinski
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Nov 12, 2009
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Maybe whoever buys it will finish my Bond Steel book collection!  |
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in2video2
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Nov 12, 2009
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And what will happen now to the promised "Ben-Hur" release advertised so far in advance??? |
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DrrnHarr
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Nov 12, 2009
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Don't count on it rgrudioski.
The reason Time Warner does not own the classic Bond movies is that the late, legendary 007 producer Cubby Broccoli took MGM to court in the early 1990s to prevent the early Bond movies from being part of the 1996 deal.
That's the reason why there was a six-year break in the series from 1989 to 1995.
There's no reason to doubt that his heirs will be any less aggressive in manging 007s future in light of MGMs troubles. |
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Robert Franklin
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Nov 12, 2009
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What would that mean for Fox, who distributes their catalog on dvd and blu-ray? I wonder if they would like to own it. But, who really has the money? Fox might not even have enough money.
And to add, I want all of the Bonds released as well. There are a few titles that I want that are not available yet. |
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F13BluRay
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Nov 12, 2009
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This is confusing. So if Warner does buy them it's possible they could re-release catalog titles like the Rocky movies and Misery? |
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rmainhammer
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Nov 12, 2009
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I just want the rest of the Bond movies. I don't really care who buys MGM as long as they begin releasing quality Blu-rays. None of this crap with "Hoosiers" and "The Usual Suspects" getting bare-bones releases. |
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alphadec
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Nov 12, 2009
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wounder what happens now to future bond films |
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Pauliesr
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Nov 12, 2009
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I got $10 if anybody wants to join in with me in the bidding... |
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SellmeyourDVD
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Nov 12, 2009
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Sniff Sniff, that means no Goldeneye for a LONNNNGGGG time  |
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mntwister
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Nov 12, 2009
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Interesting news. The releases of MGM owned movies (like American International pictures and the United Artists library) have not been great, except for a few like the Bond series. Maybe if Fox buys these we will see some better transfers and more of the UA catalog titles on Blu-ray like West Side Story, Exodus and Chitty Chitty Bang Bang..I am wondering what happens to the Fox video deal with MGM now. Maybe Fox will be the ones to buy the catalog. |
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Penthouse
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Nov 12, 2009
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Crap. No wonder we haven't heard from 007 for a while. |
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BluPat
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Nov 12, 2009
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in2video2........Warner Brothers owns that title (Ben-Hur) now and they are releasing it the same
as they did North By Northwest. |
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captveg
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Nov 12, 2009
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in2video2 - Ben-Hur is already owned by Warner outright as a pre-1986 MGM title. |
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in2video2
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Nov 12, 2009
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Thankyou for clarifing the Ben-Hur release |
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Born2BeBlu
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Nov 12, 2009
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I thought Tom Cruise and Paula Wagner had a huge stake of ownership in MGM/UA...no?? Wasn't VALKYRIE supposed to be the launch of that debacle?? |
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TTC1984
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Nov 12, 2009
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"And what will happen now to the promised "Ben-Hur" release advertised so far in advance??? "
Warner owns Ben-Hur. As a general rule, if it's an MGM movie and you could consider it a "Classic", Warner owns it. If it's a contemporary title or an older title that isn't necessarily a classic, MGM still owns it and releases it through Fox.
But let's hope the James Bond titles get released, i want to complete my collection! |
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bondfooll
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Nov 12, 2009
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I'm glad to see I'm not the only one worried about the future of Bond on Blu-ray. They still haven't released On Her Majesty's Secret Service, The Spy Who Loved Me, or the good Pierce Brosnans, and I want them, dammit! |
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spidey3
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Nov 12, 2009
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Besides bond MGM has really good movies in their library
let's hope that the studio that will buy those rights do justice to many beloved movies...
PLEASE WARNER DON'T SCREW UP BEN HUR! |
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melbye
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Nov 12, 2009
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So what would the Bond-rights cost me? Maybe some of us could pool our money together |
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